The U.S. would undermine its own progress by trying to go it alone.
Two of today’s most important global trends are the return of nationalism and the explosion of privately held high-quality data. The potential side effects of both are on vivid display in one unexpected endeavor: weather forecasting.
In his new book, “The Weather Machine: A Journey Inside the Forecast,” journalist Andrew Blum explains how rapidly forecasts have been improving. Quality is gaining roughly a day a decade, so that a 5-day forecast is now about as good as a 4-day forecast was a decade ago, and a 2-day forecast 30 years ago.
Wide access to bite-sized sports videos is creating “fluid fans” willing to shift loyalty.
When our son switched his NBA allegiance from the Houston Rockets to the Golden State Warriors, my wife, a lifelong Rockets fan, was aghast. But a new report suggests this type of disloyalty is about to become commonplace, with enormous implications for the sports market.
The business of sports is no longer a sideshow to the sports themselves. In 2018, the value of the global sports market reached almost $500 billion, with more than 100 sports franchises worth $1 billion or more.
One man’s failed attempt to build a transmission line illustrates a unique American obstacle to clean energy.
The cost of wind energy has dropped drastically over the past several decades as the technology has advanced, especially in the size of turbines. Since 2009, the unsubsidized average cost of onshore wind-energy production has fallen to 4.2 cents per kilowatt hour, from 13.5 cents in 2018, according to an analysis by Lazard, the company I work for. After including U.S. tax subsidies, the cost of building wind capacity is often lower than the marginal cost of generating electricity with existing coal-powered plants. Thus wind energy now offers great opportunities for lowering carbon-dioxide emissions.
The music business is a microcosm of the world economy.
What if the music industry could be used as a guide to important principles in business and the economy? It would sure make introductory economics courses more fun. The idea is not as fanciful as it might sound: As Alan Krueger shows in “Rockonomics,” music is a microcosm of the wider business world and provides all sorts of insights into today’s economy.
Public ownership and public borrowing are diminishing at U.S. companies. Research has unearthed some worrisome consequences of this trend.
Publicly listed companies have been disappearing, especially in the U.S., where the number of public firms has fallen to about 3,500 today from more than 7,500 in 1997. The trend is familiar, but there’s still plenty of disagreement over whether it’s a cause for concern.
My elementary school teacher taught that those who emerged from the horrors of the camps would die young. A reasonable assumption, but wrong.
Sunday was Holocaust Remembrance Day, causing me to think about an assertion I heard from an elementary school teacher. She said that even those who survived the Holocaust were so debilitated that the rest of their lives would be short. As with many things I learned in elementary school, the reality is more complicated, and my 10-year-old self would be glad to know that my teacher was probably more wrong than right.